Westport
and surrounding towns Real Estate Market Trends
through
August, 2014 from Steve Reilly
Reminder we focus on trends not
monthly swings.
Westport Median Selling Price
The Median Selling Price trend has been increasing since 2010. August
2014was greater than prior high in 2008. And, 2014 month to month showed a positive trend.
Westport
Property Sales – The trend had been Increasing
since 2009 but 2014was
less than 2013, similar to national sales as reported by the National Association
of Realtors.
Average
days on Market – The trend shows that it takes longer to sell a house
with
inconsistency from year to year since 2011.
Months of Inventory –The
trend has been for less inventory available
for sale butin 2014 there was a slight increase in inventory of properties
for sale. At 7 months,there is plenty of inventory. In 2014, month to month the trend was for less inventory available for
sale.
Towns
surrounding Westport include (Easton,
Fairfield, Norwalk, Redding, Ridgefield,
Weston and
Wilton)
Median
Selling Price – The median selling price has been improving since 2010.
Properties Sold The trend has
been increasing since 2010. However, there was a
decrease
in 2014 similar to National Sales as reported by the National Association of
Realtors.
Average Days on Market – The trend is that it takes longer to
sell a house.
Months of
Inventory – has been declining since 2009. This is good news for sellers
and bad news for buyers.There was a
slight increase of houses available for sale in 2014. At 7 months, there is
still plenty of inventory.
Regards,
Stephen Reilly
Higgins
Group
Best Practice Real Estate
278 Post Road East
Westport, CT 06880
203-246-7372
www.swreilly.com
licensed
in Connecticut
